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In the country of Economica, the total labor force consists of 15,000 workers. 750 of these workers are unemployed, and thus the current unemployment rate is 5.0%.This year, 300 workers will lose their jobs, 255 workers will return to the labor force after an absence, 150 workers will voluntarily leave their jobs, and 750 new workers will enter the labor force. At the same time, 1244 workers will find jobs, and 450 workers will retire or leave the labor force for other reasons. Thus, at the end of the year, the labor force will consist of how many workers, and the unemployment rate will be what %?
Suppose the price level and value of the U.S. dollar in year one are 1 and $1, respectively. If the price level rises to 1.20 in year two, what is the new value of the dollar?
Camptown? Togs, Inc., a? children's clothing? manufacturer, has always found payroll processing to be costly because it must be done by a clerk. The number of? piece-goods coupons received by each employee is collected and the types of tasks performe..
Assume that the long-run aggregate supply curve is vertical at Y = 3,000 while the short-run aggregate supply curve is horizontal at P = 1.0 (P = 1.0 is the SRAS Curve, in other words). The aggregate demand curve is Y = 3(M/P) and M = 1,000. If the e..
question the table sets out the demand and supply schedules for chewing gum. a draw a graph of the market for chewing
Thoreau has preferences for consumption goods (C) and time spent on leisure (L). The utility function is u(C, L) = CL. The household also has a home production technology summarized by a production function. Now suppose that there is a competitive fi..
A local union had a long standing practice of accepting only new members who were sponsored by existing members of the union. All of the existing members were white. The Union strongly denied any intent to discriminate and stated that most of the 30 ..
Give an example of an event or incident that has taken place in the U.S. economy which has a major economic impact--be specific, e.g., 9/11 attack, natural disaster, rise or fall in oil prices due to OPEC policies, consumer optimism or pessimism abou..
Differentiation strategies vary in degree of effectiveness from one type of market structure to another. For firms other than perfect competition
Originally the consumer faces the budget line p1x1 + p2x2 = m. Then the price of good 1 triples and the price of good 2 becomes 5 times larger. Write down an equation for the new budget line in terms of the original prices. Does the budget line becom..
q. a company has the production function in the short termq 50l 6l2 - 0.5l3where q weekly productionl labor number
If the average income in the town increases to 15, solve for the new equilibrium Quantity and equilibrium Pb.
You are the manager of a monopolistically competitive firm. The inverse demand curve you face is P = 50 – 4Q. Your cost function is C(Q) = 10 + 2Q. What level of output should you produce to maximize profits? What is your profit and what will happen ..
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